National Life Insurance got approval to issue 60% right share to its shareholders.
The insurance company will issue 10:06 or 99,36,477.5 units of right shares at the face value of Rs.100.
NIBL ACE Capital has been appointed as issue manger for right share.
Currently, its paid up capital is Rs.1.65 arba. After 60% right share, paid up capital will reach to Rs.2.64 arba. Right shares are going to issue to meet capital directives of Beema samiti of 2 Arba by Ashad end 2075.
It has posted 22.20 crore net profit in the third quarter of fiscal year 2074/75.
